Coinbase CLO: A hearing will be held next week regarding Nevada's blocking of the launch of prediction market contracts.

According to Mars Finance, Coinbase Chief Legal Officer Paul Grewal stated on the X platform that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the listing of relevant prediction market contracts. The latest news is that a hearing has been scheduled for next week in a federal court in Nevada, and he expressed his gratitude for the court's handling of the matter. Grewal previously stated that Nevada regulators attempted to unilaterally block the listing of any prediction market event contracts without giving Coinbase a chance to defend itself, while due process should at least include the opportunity for a hearing.